1 week Ago By ABMN Staff
Orion Portfolio Solutions LLC trimmed its stake in Independence Realty Trust, Inc. ( NYSE:IRT – Free Report ) by 7.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission.
The institutional investor owned 24,610 shares of the real estate investment trust’s stock after selling 1,850 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Independence Realty Trust were worth $488,000 at the end of the most recent quarter. A number of other institutional investors have also recently modified their holdings of the stock.
FMR LLC boosted its stake in Independence Realty Trust by 758.8% in the 3rd quarter. FMR LLC now owns 285,193 shares of the real estate investment trust’s stock worth $5,846,000 after purchasing an additional 251,984 shares in the last quarter.
BNP Paribas Financial Markets lifted its stake in shares of Independence Realty Trust by 9.4% in the third quarter. BNP Paribas Financial Markets now owns 55,102 shares of the real estate investment trust’s stock worth $1,130,000 after buying an additional 4,755 shares in the last quarter.
Captrust Financial Advisors purchased a new stake in shares of Independence Realty Trust during the third quarter valued at approximately $306,000. Benjamin Edwards Inc. bought a new stake in shares of Independence Realty Trust during the third quarter valued at approximately $392,000.
Finally, Stifel Financial Corp purchased a new position in Independence Realty Trust in the 3rd quarter worth approximately $576,000. 88.25% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth Several analysts have commented on IRT shares. Barclays cut their target price on Independence Realty Trust from $21.00 to $20.
00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. UBS Group assumed coverage on Independence Realty Trust in a research report on Monday. They set a “buy” rating and a $24.
00 price objective on the stock. Wells Fargo & Company assumed coverage on Independence Realty Trust in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $24.
00 target price for the company. JMP Securities restated a “market outperform” rating and set a $22.00 target price on shares of Independence Realty Trust in a research note on Tuesday, February 11th.
Finally, Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $24.00 in a research note on Monday, March 10th.
Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and a consensus price target of $22.22.
Insiders Place Their Bets In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of Independence Realty Trust stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total transaction of $212,100.
00. Following the transaction, the chief executive officer now owns 873,365 shares of the company’s stock, valued at $18,524,071.65.
The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website .
Company insiders own 0.58% of the company’s stock. Independence Realty Trust Stock Down 4.
1 % Shares of NYSE:IRT opened at $18.22 on Tuesday. The stock has a market capitalization of $4.
21 billion, a PE ratio of 101.24, a price-to-earnings-growth ratio of 2.91 and a beta of 0.
98. The firm’s 50 day moving average price is $20.52 and its 200-day moving average price is $20.
29. Independence Realty Trust, Inc. has a twelve month low of $15.
27 and a twelve month high of $22.26. Independence Realty Trust ( NYSE:IRT – Get Free Report ) last released its quarterly earnings results on Wednesday, February 12th.
The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.
24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.
11%. Analysts expect that Independence Realty Trust, Inc. will post 1.
19 earnings per share for the current fiscal year. Independence Realty Trust Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be issued a dividend of $0.
16 per share. This represents a $0.64 annualized dividend and a yield of 3.
51%. The ex-dividend date is Friday, March 28th. Independence Realty Trust’s dividend payout ratio is presently 355.
56%. Independence Realty Trust Company Profile ( Free Report ) Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S.
markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL. Read More Want to see what other hedge funds are holding IRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Independence Realty Trust, Inc.
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